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Innnovation Advice

Case Study: Omnichannel Retail Innovation

Case Study

Omnichannel retailing creates the opportunity to have a credible competitive starting position in the market and increase customer relationships.  It’s clear that customers value convenience and Wal-Mart has proven to be a leader in omnichannel retail innovation where they are committed to maximizing customer convenience. One tactic Wal-Mart has taken to continue its omnichannel leadership position is through the installation of pickup towers inside its stores, which function like large vending machines where customers scan or enter a code and the lockers robotic arm retrieves the item(s) – big or small. 

Wal-Mart CEO Doug McMillon says that "As we build out our e-commerce capabilities, we are deepening our digital relationships with our customers…We've accelerated our expansion of online grocery pickup and we've seen that customers who start using online grocery spent nearly 50% more than similar customers who shop only in stores. This is the customer we're going after. The shopper in our sweet spot who accesses Wal-Mart in multiple ways."

As Wal-Mart progresses in developing this type of technology, the expectations of the consumer will continue to rise and these omnichannel tactics and integrations will become the norm in the marketplace. Retailers that are not keeping up with these tactics will be left behind. Wal-Mart’s continued pace of innovation to reach customers and investments in their omnichannel model, demonstrates their commitment to compete in the eCommerce domain. Their ability to leverage their system of stores supported by a supply chain and a continued set of developing digital capabilities – Wal-Mart is undeniably looking to win with customers.

N³ Innovation’s mission is to help corporate clients create measurable enterprise value by inventing the future. Clients have generated millions of dollars of revenue in new markets, with new products and new technologies. 

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